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TODAY'S OTHER NEWS

Market news: Three bedroom homes sell quickest this autumn

New research shows that three bedroom homes are the quickest selling property type this autumn.

After a series of sluggish house price indices in recent weeks and a downbeat Rightmove market report yesterday, the latest research - by comparison website GetAgent - suggests at least some sellers may be getting through the Brexit porridge and selling relatively quickly. 

GetAgent has pulled data from all of the major portals; this has then been cross-referenced with the Land Registry to create a record of what is selling, where, for how much and how long it’s taking.  

The site says three bedroom homes have so far this year taken an average of 122 days to sell across the UK, with two-beds close behind at an average of 126 days.  

Four-beds are the next most popular option for homebuyers taking an average of 141 days, with one-beds taking 150 days, with five-beds the longest of all at 173 days.  

Locations mostly in Scotland or the north of England have been the quickest for sales of three bed properties - just 55 days in Lanarkshire,. 72 in Mansfield, and 73 in both Ashfield and Salford.

The quickest in London is Bexley at 98 days, followed by Sutton (100) and Waltham Forest (103 days).

“A three-bed is typically the first family foot on the ladder for growing families and often the last time a buyer will upsize for the long-term, if not completely. That’s why they’re consistently in high demand but there is a real lack of suitable stock currently on the market, as well as an insufficient level being delivered by housebuilders to meet this demand” explains GetAgent chief executive Colby Short.

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